Slate Confirms $700 Million in Funding, Bezos Investment

Slate Auto, the startup electric vehicle manufacturer, today confirmed to Newsweek that the company raised $700 million total through Series A and B funding, with the last round closing in late 2024.

The funding comes from Bezos Expeditions, General Catalyst and TWG Global, among other investors though the amount each firm provided is unconfirmed.

Bezos Expeditions is an American investment firm that manages Amazon founder Jeff Bezos's personal investment portfolio.

General Catalyst, a venture capital firm, has a varied portfolio that also includes cosmetics company Beauty Pie, image software company Canva and online travel search tool Kayak, among others.

TWG Global is a holding company that has other automotive industry investments, most notably Cadillac's Formula 1 team.

Slate aims to disrupt the automotive industry with a new vehicle and way of doing business that focuses on the necessary and gives buyers the power of choice at a budget-conscious price. It unveiled its first model, a battery-electric vehicle (BEV), to the world on April 26 in Long Beach, California.

Though initially sold as a truck, the new Slate BEV can be transformed into an SUV through an accessories package.

The unique truck is a two-seat pickup that will be sold in a single configuration—one bed size and one cab style. Simplicity is key to the design team's approach to the model; its windows crank and there are climate control knobs. There is no infotainment system nor a touchscreen. It wears steel wheels on each corner.

Slate owners also have the option of wrapping their vehicle or having it wrapped by a pro. Customers can choose from three levels of wrap, which is designed to make the vehicle especially personal.

The automaker will host SlateU tutorial videos on its website to instruct owners on how to enhance their model whether through accessory additions or wrapped elements.

The American company will purchase American-made batteries for its electric truck and assemble the model in the U.S.

Slate is led by CEO Chris Barman, Chairman Rod Copes, COO Jeremy Snyder and head of design, Tisha Johnson, among others.